New Foreign Currency Restrictions for Resident Exporters in Malaysia 

Following the recent decline in value of the Malaysian Ringgit, Bank Negara Malaysia (BNM) issued a Supplementary Notice on foreign Exchange Administration Rules – Measures to Promote the Development of Malaysian Financial Market (‘Notice’) on 2 December 2016. BNM announced several new measures with the aim to shore up the Malaysian Ringgit and reduce its volatility against the US Dollar. In this Newsletter, Luther highlights the measures that are relevant to entities and individuals resident in Malaysia.